And with so many opportunities to cash in those points, you're probably wondering what the best value is. Fortunately, comparison website Finder has worked out just how much 1000 Qantas points are worth based on what you spend them on.
After analysing hundreds of products and flights, Finder found that if you want the best value, flight upgrades and first class tickets are your best bet - 1000 points converts to roughly $40 to $60.
Meanwhile, if you don't have enough points for business or first class, economy flights are your next best option - your 1000 points will be worth around $20.
The worst value? Using qantas points for gift cards are a huge no. You'll get about $3 to $6 off per 1000 points spent.
"You might be tempted by a free gadget and getting a Christmas present knocked off your list, but this is the worst way to spend your points," says Angus Kidman, Finder editor-in-chief, speaking to Lifehacker.
"Our research shows that using your points for economy flights is worth four times more than buying products like electrical goods and gift cards."
While flights are the best option, they can be a tricky game. For many, you'll need to book well in advance and some flights might require a higher flyer status.
"Upgrades offer the best points value, but they're very tough to attain if you're not a regular flyer. Saving up for a rewards flight is an easier tactic for most people."
You might also like: